Five Argentine companies have already indicated that they will not be able to meet their debt payments throughout the year 2025. The first two to announce this issue were Los Grobo and Agrofina, linked to the agricultural sector. Both defaulted at the end of last year, informing the National Securities Commission that they could not pay around US$21.4 million due on January 13 and another $9.4 billion due on January 15.
"The Company continues to negotiate with Creditors in order to reach an agreement regarding the aforementioned maturities, and any relevant updates on the course of this negotiation will be communicated," the companies informed the CNV. Agrofina also noted that the rating agency Fitch downgraded its debt rating.
Another affected company is Sucros, dedicated to the production of agricultural inputs, which communicated to the CNV its inability to pay maturities of $298.895 billion, with a final deadline of January 30. The company argued that it is facing a serious financial situation, with seizures preventing them from making payments. Its obligations exceed US$100 billion, half of which corresponds to financial obligations.
In December, the company Surcos also defaulted, accumulating debts of over US$100 billion. Among the debts are securities payable, liens, and legal claims. Subsequently, the Albanesi Group reported that it could not pay US$19.5 million in interest on its bonds due on May 5, mentioning that they are evaluating alternatives to resolve the situation.
Finally, Celulosa Argentina, a leader in the forestry and paper industry, announced that it would also not be able to fulfill the payment of bonds or deferred payment checks due in May. The company expressed that the decline in its sales, rising costs, and the perception of risk in the financial market are factors that have contributed to this situation. The company is working on analyzing strategic alternatives to restructure its debt profile.
